We had a news thread about this a while back, but now the movie has a name, and the cast is starting to fill out.
From the Hollywood Reporter:
Jason Sudeikis continues his run of booking parts in high-profile comedy projects. This time the Saturday Night Live regular will play politics with Will Ferrell and Zach Galifianakis in Dog Fight, which Jay Roach is directing.
Shawn Harwell and frequent Ferrell collaborator Chris Henchy wrote the screenplay, about rival politicians in a small congressional district in South Carolina. Sarah Baker and Katherine LaNasa have also been cast.
Galifianakis is producing along with Roach, through his Everyman Pictures, and Ferrell and Adam McKay, through their Gary Sanchez Prods. shingle. Warner Bros. is distributing the movie, which begins filming mid-November in New Orleans for an August release.